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CVS Corporation Statement Released Today

Posted on: Monday, 18 December 2006, 12:01 CST

WOONSOCKET, R.I., Dec. 18 /PRNewswire-FirstCall/ -- Earlier this morning, Express Scripts, Inc. announced a proposal to acquire Caremark Rx, Inc. in a highly leveraged transaction.

We have not yet had an opportunity to review this offer carefully.

However, we note that we have a definitive agreement with Caremark that will result in the creation of the nation's leading pharmaceutical services provider in a merger of equals transaction. We believe the prospects for completing that transaction are excellent and we remain confident in the long- term strategic value of our combination as well as the benefit to shareholders of CVS and Caremark.

About CVS Corporation

CVS is America's largest retail pharmacy, operating approximately 6,200 retail and specialty pharmacy stores in 43 states and the District of Columbia. With more than 40 years of dynamic growth in the retail pharmacy industry, CVS is committed to being the easiest pharmacy retailer for customers to use. CVS innovatively serves the healthcare needs of all customers through its CVS/pharmacy stores; its online pharmacy, CVS.com; its retail-based health clinic subsidiary, MinuteClinic; and its pharmacy benefit management, mail order and specialty pharmacy subsidiary, PharmaCare. General information about CVS is available through the Investor Relations portion of the Company's website, at http://investor.cvs.com/, as well as through the pressroom portion of the Company's website, at http://www.cvs.com/pressroom.

Investor Contact: Media Contact: Nancy Christal Carolyn Castel Investor Relations Corporate Communications (914) 722-4704 (401) 770-5717

CVS Corporation

CONTACT: Investors, Nancy Christal, Investor Relations, +1-914-722-4704,or Media, Carolyn Castel, Corporate Communications, +1-401-770-5717, both ofCVS Corporation

Web site: http://www.cvs.com/http://www.cvs.com/pressroomhttp://investor.cvs.com/

Source: PRNewswire-FirstCall

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